SOURCE: iovation

iovation

October 21, 2012 19:00 ET

iovation Presents Global Cybercrime Statistics and Strategies for Mobile Fraud Prevention at CIFAS User Forum

Device Reputation Leader Hosts Internet Crime Workshop for CIFAS Members

PORTLAND, OR--(Marketwire - Oct 21, 2012) - iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced it will deliver a workshop presenting global statistics and trends originating from desktop and mobile devices, plus strategies that leading financial institutions and other online businesses are using to keep their online fraud to minimum. Chris Thomas, iovation's Director of Business Development in Northern Europe, will host the workshop entitled, "Combating Mobile Fraud and Cybercrime Through Global Intelligence Sharing" at the CIFAS User Forum in London on October 23 at 2:55pm GMT.

"Fraud knows no borders whether it's by industry or country," said Thomas. "We will take a look at how some of the world's largest brands are stopping crime syndicates before they ever strike, by sharing fraud intelligence on a massive scale around the world and across industries, whether it be financial services, retail, telecommunications, travel, dating, social networking or gaming."

Thomas will provide a case study demonstrating how iovation's cross-industry intelligence helped bust a fraud ring that compromised the identities of dozens of people, resulting in more than $100,000 in fraudulent charges. The fraud ring was identified by detectives working the case, thanks to the help of iovation ReputationManager 360's unique capability of associating multiple devices working in collusion on the scheme.

ReputationManager 360 analyzes the behavior of more than a billion devices such as mobile phones, tablets and computers in its cybercrime intelligence network. iovation's ReputationManager 360 service uses advanced device identification (including mobile device identification) to identify and re-recognize devices connecting to its clients sites. It helps businesses associate groups of devices that would otherwise appear unrelated, and assesses real-time risk through custom business rules that include velocity, anomaly, proxy use triggers, and more. By utilizing iovation's device reputation intelligence gathered across the thousands of risk professionals that use the service, companies can increase fraud catch, improve operational efficiencies, and take more good business.

In addition to global cybercrime statistics, iovation's CIFAS workshop will cover:

  • A global view of current fraud trends and geographical hotspots
  • Current trends in fraud typologies across business sectors
  • Growth rates for desktop transactions compared to mobile transactions
  • How to identify fraud rings across multiple channels & geographies
  • How fraud teams work together to build cases for law enforcement

CIFAS is the world's first not-for-profit fraud prevention data sharing service and primarily supports businesses in the U.K. The CIFAS User Forum will be hosted in London at the Wellcome Collection Conference Centre.

About iovation
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than one billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts sharing intelligence about cybercrime prevention, device identification and more. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.

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